1. In this rapidly changing landscape, incumbents must recognize the needs and preferences of an emerging generation of policyholders, and re-think the way they do business, according to the World Insurtech Report 2019 by … Tedros Adhanom Ghebreyesus Director-General Insurers are less ready for change than their customers, most of whom want more comprehensive and dynamic coverage. Offices in London, Brussels, Andorra, Stockholm, Bratislava, Dubai, Milan, Montreal, Istanbul, Beijing and Singapore. Consumers are more prepared for change than providers. Data and research on finance including financial markets, monetary issues, insurance, private pensions, sovereign debt, public debt management and financial education., This annual report analyses insurance market statistics collected by the OECD to monitor the insurance industry’s overall performance and health. This year’s report draws on research insights from two primary sources – the 2019 Global Insurance Voice of the Customer Survey and 2019 Global Insurance Executive Interviews. They help us to improve site performance, present you relevant advertising and enable you to share content in social media. Insurers need to innovate, and become partners and preventers. World InsurTech Report 2019. Swiss Re Annual Report 2019. ... McKinsey and the World Economic Forum. Our 2019 analysis of McKinsey’s Global Insurance Pools database offers a detailed look at global insurance trends, with analysis by region and line of business. I am very pleased to introduce the WHO global report on traditional and complementary medicine 2019. Insurers must respond to emerging threats, and changing customer expectations, by embracing new technology and partnerships. Over half (55%) of customers said they are ready to explore new insurance models, but barely a quarter (26%) of insurers are investing in them. OK. The Group reported 2018 global revenues of EUR 13.2 billion. We expect significantly slower growth (9%) in China than over the past 10 years (16%), reflecting more moderate economic growth. Der World Insurance Report (WIR) 2019 deckt alle drei großen Versicherungssegmente ab: Lebens-, Sach- und Krankenversicherung. Published annually, it has become one of the fixtures of the sigma programme since 1968, the publication´s inaugural year. The world insurance sigma, covers direct premiums written in the global primary insurance industry. You can change your settings at any time by clicking Cookie Settings available in the footer of every page. Yet most insurers have been slow to respond to these trends and equip customers for them. Insurers have been slow to respond to emerging risks. A new social contract is needed to smooth the transition and guard against rising inequality. Will Pritchett Global Head of Insurtech KPMG International. Headquarters in Paris. Risk assessment capabilities can be significantly enhanced through deployment of machine learning, artificial intelligence and advanced analytics, and effective collaboration with InsurTech providers. And only 39% believe 18 Swiss Re Institute sigma No 3/2019. Accept only necessary cookies and close window, Unlock value through intelligent automation, Optimize your supply chain and vendor performance, Manage your contracts to capture lost revenue, Manage your risk and compliance effectively, Gain more insights from your business analytics, Implementing Software-as-a-Service (SaaS), Cybersecurity Defense Maturity Evaluation, Network Security and Segmentation Service, Penetration Testing, Red Teaming, and Threat Simulation, Digital Engineering and Manufacturing Services, Application Development & Maintenance Services, World’s Most Ethical Companies® recognition, Our Corporate Social Responsibility Program. Together, these sources cover insights from 28 markets: Australia, Belgium, Brazil, Canada, China, Finland, France, Germany, Greece, Hong Kong, India, Italy, Japan, Mexico, the Netherlands, Norway, Philippines, Poland, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, the United Arab Emirates, the United Kingdom, and the United States. This year’s report draws on research insights from two primary sources – the 2019 Global Insurance Voice of the Customer Survey and 2019 Global Insurance … According to the report, technological progress also needs to be matched by a shift in attitudes. 2 Deloitte Center for Financial Services analysis of consolidated insurance industry statistics from S&P Global through June 30, 2018. Milano, 14 maggio 2019 – Il World Insurance Report 2019, pubblicato oggi da Capgemini ed Efma, rivela che i clienti delle compagnie assicurative temono sempre più che la propria copertura non sia sufficiente per i rischi emergenti, dalla sicurezza informatica alle minacce ambientali. Endnotes. growth rates than insurance in emerging markets, and the figures in our report are beginning to reflect these major fault lines by geography and business segment. Under 25% of business customers across all geographies, and less than 15% of personal policyholders, feel they have sufficient coverage to insure against any one of the emerging risks driven by these macro trends. As new risks are impacting the insurance landscape, the World Insurance Report 2019 from Capgemini and Efma explores the opportunity for insurers to develop new, technologically-advanced products to provide comprehensive risk coverage and better manage shifting customer expectations. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. 7 | Insurance trends 2019 Part of PwC’s 22nd CEO Survey trend series. “This research shows a coverage gap in areas of emerging risk, but also highlights an important opportunity for insurers. 3 Neil Spector and Robert Gordon, “Property/Casualty Insurance Results: 2017,” ISO/PCI, May 14, 2018. Auto insurance — disruption is coming but direction is not clear. Besides reports on its key events and standalone publications such as the Global Competitiveness Report, the Global Risks Report and the Global Gender Gap Report, the … All rights reserved by Capgemini. This year's report draws on research insights from two primary sources – the 2019 Global Insurance Voice of the Customer Survey and 2019 Global Insurance Executive Interviews. You may accept all cookies, or choose to manage them individually. In Malawi, R4 insured 37,891 farmers (71 percent women) for the 2019/20 season and is piloting a hybrid index insurance product in three districts, that brings together Weather Index Insurance (WII) with Area Yield Index Insurance (AYII), providing farmers with a more comprehensive insurance … This year’s report draws on research insights from two primary sources – the 2019 Global Insurance Voice of the Customer Survey and 2019 Global Insurance … For more information, explore the report website at www.worldinsurancereport.com. The underlying principle of takaful portrays the responsibility of each to cooperate and protect each other.à  The drivers of Takaful demand include high economic growth and increase in per capita GDP, a youthful demography, increasing awareness, a greater desire for shariâ⠬⠢a compliant offerings and increasing asset based, shariâ⠬⠢a compliant financing.The GCC is the largest market and is expected to reach USD 20 billion by the end of 2019. The report identifies five macro trends that are creating emerging risks for insurance customers and their businesses: disruptive environmental patterns, technological advancements, evolving social and demographic trends, new medical and health concerns, and business environment changes. Copyright © 2021. The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. World Insurance Report 2020. World Insurance Report 2019 admin As new risks are impacting the insurance landscape, the World Insurance Report 2019 from Capgemini and Efma explores the opportunity for insurers to develop new, technologically-advanced products to provide comprehensive risk coverage and better manage shifting customer expectations The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. I believe that this report provides valuable information for policy-makers, health professionals and the public for capitalizing on the potential contribution of T&CM to health and well-being. The World Economic Forum publishes a comprehensive series of reports which examine in detail the broad range of global issues it seeks to address with stakeholders as part of its mission of improving the state of the world. Among business customers, 81% are exposed to escalating employee healthcare costs against which just 17% are well covered; 87% are at risk of cyberattacks with less than 18% comprehensively insured; and almost 75% are threatened by rising natural catastrophes, for which just 22% are effectively covered. The insurer of tomorrow will take a holistic approach to customer risk management by acting as a partner and preventer while continuing to be a payer.The content of this report is offered to you free of charge by Efma and its partner. For more information related to the cookies, please visit our cookie policy. The slow response to emerging threats has created significant coverage gaps for customers exposed to these risks. Of the three main business segments, only the smallest—private health insurance—posted truly robust gains across the globe in 2016, expanding the fastest in the Asia-Pacific (APAC) The World Insurance Report (WIR) 2019, published by Capgemini and Efma, explores the impact of macro trends including disruptive environmental phenomena, high tech advances, social and demographic shifts, new medical and health concerns, and a morphing business environment.Technology is key to proactive management of these new high-impact risks and shifting customer expectations. The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. Global Spending on Health: A World in Transition. Technological progress disrupts existing systems. There is a significant coverage gap in emerging risk areas. 2019 MAY 28-- By a News Reporter-Staff News Editor at Insurance Daily News-- The World Insurance Report 2019, published by Capgemini and Efma, reveals that … Over 3,300 brands in 130 countries are Efma members. New role for the oldest skills. As the insurance landscape shifts, customers are showing greater readiness for change than their insurance providers. While 37% of customers said they are highly willing to share additional data in return for improved risk control and prevention services, only 27% of insurers have the capability to tap real-time data for risk modelling purposes. Conclusion 32 About KPMG 34 Contributors 34. Capgemini is driven by the conviction that the business value of technology comes from and through people. The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. Trends in the global insurance markets. The World Insurance Report (WIR) 2019, published by Capgemini and Efma, explores the impact of macro trends including disruptive environmental phenomena, high tech advances, social and demographic shifts, new medical and health concerns, and a morphing business environment. ... to build a healthier world September 23, 2019 UN General Assembly 2 ... 3.1 126 countries had social health insurance in 2017 29 This page gives quick access to all the resource. Those that can evolve their products through technology, collaborate with innovators, and think of themselves as partners and preventers to their customers, stand to benefit the most.”, “This research shows that the future for insurance will be partnership-centric,” said Vincent Bastid, Secretary General of Efma. “Insurance providers need to collaborate with partners who offer high levels of expertise in areas from AI to advanced analytics. Yet, only 10% of those who believe that data on customers’ preferences and needs is critical or important say the data they receive is comprehensive. The insurance industry is undergoing a fundamental transformation, fueled by evolving customer expectations, innovative offerings and new players entering the market. Rapidly evolving environmental, technological, social, and business factors are transforming the insurance landscape by sparking new risks or driving change within existing threats. To enhance your user experience and to deliver our online services, this website uses cookies for reasons of functionality, comfort and statistics. Create an account or log in to download the full report. It is a multicultural company of over 200,000 team members in more than 40 countries. The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. Building on its strong 50-year heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. A World in Transition 2019 GLOBAL REPORT. Progress in these areas has been mixed: a majority (57%) have leveraged AI, machine learning and advanced analytics, but only 29% have implemented automated risk assessment, and just 20% real-time insight generation from IoT devices. Skill up and reorganize urgently for a digital world. Trend 9 28. We project that emerging markets premiums will grow by around 7% in 2019/20. Please login or create a new account to subscribe. Global premium income totaled EUR3,906bn in 2019 (life: EUR2,399bn, P&C: EUR1,507bn). Select which Site you would like to reach: World Insurance Report 2019: Insurers must respond to customer concerns around emerging-risk coverage, Customers demand more comprehensive and personalized insurance products to address ‘coverage gap’ in existing policies and emerging risks. View the World Insurance Report 2019 video to learn how i... As the risk landscape evolves, a vast majority of policyholders say their coverage is insufficient. The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. 2019 KPMG International Cooperative KPMG International. This website is not compatible with Internet explorer please use one of the following browsers. We use cookies to improve your experience on our website. Die diesjährige Studie stützt sich auf Forschungsergebnisse aus zwei Hauptquellen: dem 2019 Global Insurance Voice of the Customer Survey und den 2019 Global Insurance Executive Interviews. Goals. Then, Covid-19 hit the world economy like a meteorite. At the same time, a significant opportunity exists for insurers to leverage technology and partnerships to get ahead of macro trends and become more proactive partners to their customers. This year’s report draws on research insights from two primary sources – the 2019 Global Insurance Voice of the Customer Survey and 2019 Global Insurance … The World Insurance Report (WIR) 2019 covers all the three broad insurance segments―life, non-life, and health insurance. A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. We have explored its transformative efect on insurer- customer relationships, insurance market dynamics, and insurance business models. European insurance in the world Europe accounts for a third of global insurance premiums, slightly less than the Asia-Pacific region and slightly more than North America. Learn more www.efma.com. Paris, May 14, 2019 – The World Insurance Report 2019, published today by Capgemini Efma, reveals that policyholders are increasingly concerned that their insurance coverage has become insufficient for emerging risks, from cybersecurity to environmental threats. Increasingly, the insurer’s role will progress to include a greater presence in customers’ daily lives as relationships with policyholders are redefined. People matter, results count. In this, ou r twelfth year, the report takes Trend 10 30. Visit us at www.capgemini.com. By continuing to browse the site, you are agreeing to our use of cookies. Die Studie stellt fest, dass sich in neu entstehenden Risikobereichen – von der Cybersicherheit bis hin zu Umweltbedrohungen – erhebliche Versorgungslücken entwickelt haben. The World InsurTech Report (WITR) 2019 from Capgemini and Efma explores the Insurance marketplace of the future and offers insights into how established insurers and InsurTechs can remain competitive in a dynamic business environment. Where insurers have traditionally seen themselves as a payer, they need to evolve into the parallel roles of partner and preventer, working more closely with customers to mitigate risks and provide on-demand services. Fewer than 40% of life and health insurers said they have built a pipeline of new products to cover emerging risks comprehensively. World Insurance Report 2019 The World Insurance Report (WIR) has been tracking technology’s impact on the insurance sector for more than a decade. 07 October 2019. World Insurance Report 2019. We use cookies essential for this site to function well. Zu diesem Ergebnis kommt der von Capgemini und der Efma veröffentlichte World Insurance Report 2019. Simultaneously, they must partner more closely with their customers to provide the more responsive, demand-driven service many are seeking.”. Der World Insurance Report 2019 deckt alle drei großen Versicherungssegmente ab: Lebens-, Sach- und Krankenversicherung. As digital adoption is now mainstream across generations and willingness to purchase insurance from BigTechs is increasing, the World Insurance Report 2020 from Capgemini and Efma explores the changing trust equation between insurers and customers, and how insurance companies can use hyper-personalization to address it. The World InsurTech Report (WITR) 2019 from Capgemini and Efma explores the Insurance marketplace of the future and offers insights into how established insurers and InsurTechs can remain competitive in a dynamic business environment. The sudden stop of economic activity around the globe will batter insurance demand, too: Global premium income is expected to shrink by -3.8% in 2020 (life: -4.4%, P&C: -2.9%), three times the pace wit- The report estimates that 83% of personal insurance customers have medium or high exposure to cyberattacks and to outliving their savings, yet just 3% and 5% respectively are comprehensively covered against these eventualities. “Emerging risk trends and rising customer expectations are dramatically changing the landscape for insurance, and providers must be agile in how they respond,” said Anirban Bose, CEO of Financial Services at Capgemini and member of the Group Executive Board. 1 Matthew Lerner, “Economic growth helps insurers, reinsurers in 2018,” Business Insurance, August 14, 2018. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today. Le compagnie assicurative, dal canto loro, sono meno pronte al cambiamento rispetto ai loro clienti, la maggior parte dei quali … A global leader in consulting, technology services and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms. decisions they make about managing enterprise risk (93%). The World InsurTech Report 2020 from Capgemini and Efma explores the changing business dynamics of the insurance industry – from the global pandemic underscoring the need for business resilience to BigTechs setting new standards for customer experience. Global Insurance Report 2019 Re-engineering for resilience Now in its eighth edition, the 2019 BlackRock Global Insurance Report provides insights from 360 senior insurance and reinsurance executives across 25 countries and representing over $16 trillion in global investable assets.